A three-storey, 40-units, single-occupancy suits were recently opened in Vancouver, the rental units contain self-bathrooms, kitchens and they all come at affordable prices. This is the first of its kind to be financed by the Affordable Rental Innovation Fund and they are proposing a much flexible tactic to improvements in the rental of apartments.
The building units are conveniently moveable, which means that any chances of relocating the suits to any empty site when the current site or location is possible; most especially when it is required or needed to be used for development purposes that will endure for a while.
Simon Lahoud, Senior Manager at Innovation Fund, CMHC said; “Vancouver now has a new and unconventional solution to its affordable rental challenges. This project is a glimpse of what Canada’s affordable rental housing future can look like with the hope of inspiring more innovative and affordable housing solutions in cities across the country.”
The Housing Corporation, Vancouver Affordable Housing Agency, Canada Mortgage and the City of Vancouver teamed up and helped fund a city project at 220 Terminal Avenue in Vancouver’s Strathcona neighborhood. The project was worth $1.5 million in total.